Spotify Technology $SPOT Position Lessened by Hyperion Asset Management Ltd

Key Points

• Hyperion Asset Management Ltd reduced its position in Spotify Technology by 8.4%, now holding approximately $252.7 million worth of Spotify stock, which accounts for 7.9% of its portfolio.
• Several analysts have increased their price targets for Spotify, with the consensus target now at $726.84, indicating a generally positive outlook for the stock.
• Spotify reported disappointing earnings of ($0.42) EPS, missing estimates significantly, but had revenues exceeding expectations at $4.94 billion, marking a 10.1% increase from the previous year.

Hyperion Asset Management Ltd trimmed its position in Spotify Technology (NYSE:SPOT - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 329,324 shares of the company's stock after selling 30,235 shares during the period. Spotify Technology accounts for 7.9% of Hyperion Asset Management Ltd's portfolio, making the stock its 5th biggest position. Hyperion Asset Management Ltd owned approximately 0.16% of Spotify Technology worth $252,703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. Tsfg LLC purchased a new stake in Spotify Technology in the first quarter worth $28,000. North Star Investment Management Corp. grew its stake in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the period. Truvestments Capital LLC bought a new stake in Spotify Technology in the first quarter worth $34,000. Finally, Copia Wealth Management bought a new stake in Spotify Technology in the fourth quarter worth $29,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPOT. Guggenheim reissued a "buy" rating and issued a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Evercore ISI upped their price target on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Citigroup upped their price target on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Finally, The Goldman Sachs Group upped their price target on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $726.84.

Spotify Technology Price Performance

SPOT stock opened at $737.28 on Tuesday. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00. The company has a market capitalization of $150.93 billion, a price-to-earnings ratio of 178.95, a PEG ratio of 3.16 and a beta of 1.71. The business has a 50 day simple moving average of $693.62 and a two-hundred day simple moving average of $655.70.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.